Seeking and acquiring real estate in Spain
Seeking real estate in Spain can be done by internet, with the help of a real estate consultant or through an agent. Care should be taken if using an agent, as well as in signing a contract, because agents generate fees and only notarisation can ensure acquisition in good faith.
The Dismissal of an employee already dismissed or the precautionary dismissal
After the dismissal of an employee, an employer who obtains information about new infringements liable to penalty involving the disciplinary dismissal by the employee could resort to the institution of a precautionary or ad cautelam dismissal.
Initial Coin Offering (ICO) in Spain
ICOs offer revolutionary and flexible corporate financing ways to technology start-ups. Even though ICOs increase entrepreneur independence, they bear investor risks. Various legislations in Spain must ‘be taken into account when emitting tokens.
The Right of exit of the Shareholder with the Entry into Force of Article 348. bis
Article 348.bis, which recognizes the right of exit of a minority shareholder due to failure to distribute dividends, entered into force on the 1st of January 2017 after the suspension of its validity by means of a transitional provision of the Corporate Enterprises Act, approved on the 2nd of October 2011.
Company formation in Spain: SA vs SL
The main differences between the Spanish public limited liability company (SA or Sociedad Anónima) and the limited liability company (SL or Sociedad Limitada) are in terms of minimum capital stock, payment upon formation, transfer of shares or stakes or contributions to the share capital, among others.
Contractual guarantees in Spain: the personal guarantee
Personal guarantees include personal securities, which can be characterized as an ancillary obligation, since it depends on the main obligation, and as a subsidiary obligation as well, in that only if the principal debtor fails to comply is it possible to demand payment of the debt from the guarantor.
Procedure for substantial modification of working conditions in Spain
The procedure for substantial modification of working conditions is preceded by a series of consultations with the representatives of the employees which cannot exceed a period of fifteen days.
Enforceable contractual guarantees: the bank guarantee payable on first demand
Among enforceable personal contractual guarantees, the bank guarantee payable on first demand stands out. With this type of guarantee, a banking institution commits to respond to the fulfilment of an obligation, automatically and immediately, and without the ability to demand clear evidence of noncompliance.
Debt prevention measures in Spain
A debtor’s default or delay is established if the debtor cannot satisfy his obligation to pay after receiving an overdue notice. At the time of contraction, companies in Spain can take preventive steps to deter defaults from the outset and to improve their legal position in a legal dispute.
Business purchase agreements: the asset vs the share purchase agreement
A correct evaluation of both a possible purchase of the assets of a company (asset purchase agreement) or a direct acquisition of stocks and shares (share purchase agreement) will determine the best option to enter the Spanish market.
